Car Shoppers Pushed Into Buy-Now Mode, as August Sales Sizzle | Edmunds

Car Shoppers Pushed Into Buy-Now Mode, as August Sales Sizzle


Just the Facts:
  • Edmunds is predicting robust August auto sales, as car shoppers are pushed into "buy-now" mode by dealers.
  • "August is a huge month for dealers who need to clear out 2014 models to make room for 2015 inventory," said Jessica Caldwell, an Edmunds senior analyst.
  • Some of the best deals include zero percent financing for up to 72 months on a 2014 Chevrolet Cruze or $2,000 cash on a 2014 Nissan 370Z Convertible.

SANTA MONICA, California Edmunds is predicting robust August auto sales, as car shoppers are pushed into "buy-now" mode by dealers.

"August is a huge month for dealers who need to clear out 2014 models to make room for 2015 inventory," said Jessica Caldwell, an Edmunds senior analyst. "TV and radio airwaves are filled with these clearance deals and they're helping to push hesitant car shoppers into 'buy-now' mode."

The projected sales will be a 5.5 percent increase from July 2014 and a 0.7 percent increase from August 2013.

Edmunds projects that this month's sales could hit the highest August sales volume since August 2003.

Chrysler Group is expected to be a strong performer when monthly sales are reported on Tuesday. August is expected to be the 53rd consecutive month of year-over-year U.S. sales gains for the automaker on the strength of such products as the Jeep Cherokee and Ram 1500.

August usually shapes up as a strong month for U.S. auto sales as consumers line up for factory discounts at the end of the model year.

Some of the best deals include zero percent financing for up to 72 months on a 2014 Chevrolet Cruze or $2,000 cash on a 2014 Nissan 370Z Convertible.

The average new-vehicle retail transaction price in August 2014 is $29,300, a record high for the month surpassing $28,898 set in August 2013, according to LMC/Power in its August 2014 forecast.

The 2014 Ford Fusion and Chevrolet Camaro are among the highlights as car shoppers crowd showrooms to take advantage of this weekend's Labor Day holiday deals.

Edmunds says: Summer winds down but auto sales continue to sizzle.

Leave a Comment
ADVERTISEMENT
ADVERTISEMENT